QCR Holdings, Inc. $QCRH Shares Purchased by Rhino Investment Partners Inc

Key Points

• Rhino Investment Partners more than doubled its QCR Holdings stake in the first quarter, purchasing 73,308 additional shares to own 133,324 shares valued at approximately $11.4 million. Institutional investors and hedge funds collectively own 70.01% of QCR.
• Analysts remain broadly positive, with four Buy and two Hold ratings, resulting in a “Moderate Buy” consensus and an average price target of $108.75. Piper Sandler raised its target to $123, while DA Davidson and Keefe, Bruyette & Woods also increased their targets.
• QCR reported quarterly earnings of $2.19 per share, exceeding the $1.91 consensus estimate, although revenue of $97.34 million fell short of expectations. The company also pays a $0.10 quarterly dividend, equivalent to a 0.4% yield.

Rhino Investment Partners Inc grew its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 122.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 133,324 shares of the bank's stock after purchasing an additional 73,308 shares during the period. QCR accounts for 3.2% of Rhino Investment Partners Inc's portfolio, making the stock its 12th biggest position. Rhino Investment Partners Inc owned approximately 0.81% of QCR worth $11,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of QCRH. Assetmark Inc. acquired a new position in shares of QCR in the 4th quarter valued at about $37,000. Farther Finance Advisors LLC grew its position in shares of QCR by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank's stock valued at $48,000 after buying an additional 148 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in QCR during the fourth quarter worth about $61,000. Blue Trust Inc. acquired a new stake in QCR during the first quarter worth about $71,000. Finally, Quadrant Capital Group LLC bought a new position in QCR in the third quarter worth about $72,000. 70.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler restated an "overweight" rating and issued a $123.00 target price (up from $107.00) on shares of QCR in a research note on Monday. DA Davidson increased their price target on QCR from $97.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday. Keefe, Bruyette & Woods raised their price target on QCR from $105.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of QCR in a research report on Monday, July 6th. Finally, Raymond James Financial restated an "outperform" rating and set a $99.00 price objective on shares of QCR in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $108.75.

QCR Price Performance

NASDAQ QCRH opened at $103.28 on Wednesday. QCR Holdings, Inc. has a 52 week low of $66.65 and a 52 week high of $103.34. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 12.21 and a beta of 0.75. The company has a 50-day moving average price of $95.44 and a two-hundred day moving average price of $90.82.

QCR (NASDAQ:QCRH - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.28. The company had revenue of $97.34 million for the quarter, compared to analysts' expectations of $104.10 million. QCR had a return on equity of 13.00% and a net margin of 22.86%. Analysts forecast that QCR Holdings, Inc. will post 8.4 EPS for the current year.

QCR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.40 annualized dividend and a yield of 0.4%. QCR's payout ratio is presently 4.73%.

Insiders Place Their Bets

In other QCR news, insider James D. Klein sold 310 shares of the business's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $91.00, for a total transaction of $28,210.00. Following the completion of the transaction, the insider owned 428 shares in the company, valued at approximately $38,948. The trade was a 42.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Laura L. Ekizian sold 750 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total value of $71,220.00. Following the completion of the transaction, the chief executive officer directly owned 6,093 shares of the company's stock, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.20% of the company's stock.

QCR Profile

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.

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